Good afternoon. I am Loren, a licensed attorney, and I look forward to assisting you.

There is no legal requirement of a written lease. The main benefit is to lock in your right of possession and the rent amount for a year or more. Otherwise, without a written lease, the tenancy may be terminated upon the notice required by statute. Depending on the state, that period of time can be 60 days or as short as 10 days.